The bad deal of the Médecin villa

One of the "affairs" in Nice which has been widely talked about which has been discretely concluded : the sale of "Lou Soubran", the Jacques Médecin's villa. Michel Charasse, who was secretary of the Treasury seized it in September 1992 in order to pay back the fiscal debt of the former mayor of Nice. Bought up for an amount of 12.7 million francs, the property situated on the Gairaut hill has been sold out for 3.7 million francs, very discretely, in July 1999 to the IFR company (Immobilière French Riviera) which had proposed the best bid.

The news has been revealed by the daily Nice-Matin of February 25th, which specifies that the State has done a very bad deal. With the depreciation and guarding expenses (10 million francs within 7 years), it has lost some 20 million francs. At that time Michel Charasse thought he could sell "Lou Soubran" between 30 and 35 million francs. The real estate market…